Should we end the FED?

This topic is becoming more popular these days. We hear phrases like audit the FED and end the FED, mainly among Ron Paul supporters. The central bank was created in the early 1900s to control a dynamic and volatile market by printing money and controlling interest rates. But as our currency loses its value and interest rates continue to drop to record lows, we’re seeing a very different market – one that doesn’t seem so easy to control.

So should we end the FED? Should we at least audit it? Does the FED even have a role to play in all of our financial woes?